I think this is actually a positive step. These guys aren’t cheap and specialize if pre packaged bankruptcy/M&A. I think all options are on the table at the moment. It’s better to have them hire these groups then nothing and drive the airline into the ground alone.

more news will come in the next month or two. With up to 3M in holdbacks per day plus 2/3M loss on average per day plus consulting fees of about 165K from these groups per day the runway is short. Could be another pre package bankruptcy, or setting up for something else.

I don’t believe these groups would be hired if a liquidation was coming. That would not make sense to hire aviation strategist this late in the game for nothing.

in the end of the day, very few people have an actual idea of what will happen.

some backround for you on these groups:

PJT Partners is a boutique, advisory‑focused investment bank, highly regarded for its work in restructuring and corporate transactions. They deliver:

• Restructuring & Special Situations: Guiding companies through distress scenarios such as bankruptcies, debt reorganizations, recapitalizations, distressed M&A, exchange offers, and out‑of‑court solutions .
• Strategic Advisory & Capital Markets: Advising on M&A, capital raising, shareholder issues, and reshaping corporate strategy.


FTI Consulting is a global professional services firm with deep capabilities in:
•Turnaround & Restructuring: They help troubled businesses improve cash flow, negotiate loan covenants, restructure debt, manage liquidity, and lead formal reorganization efforts .
• Aviation-Specific Strategy: FTI offers tailored support in fleet optimization, operations stabilization, procurement, network planning, labor negotiations, and regulatory communications for airlines .
• Strategic Communications: Managing messaging across media, regulators, employees, investors, and unions—key during turbulent transitions

Seabury Airline Strategy Group — Commercial & Fleet Strategy

Seabury, combined with Airline Strategy Group, offers specialized aviation consulting:
• Network & Fleet Planning: Creating long‑term fleet deployment plans and route strategies with proprietary tools .
• Revenue & Distribution Optimization: Enhancing revenue through advanced pricing, sales strategies, direct-ticketing models, and optimizing ancillary income .
• Commercial Strategy & Operations: Providing advice on partnerships, strategic planning, commercial operations, M&A, and fleet/operational efficiency .
• Financing & Transactions: They advise on aircraft transactions, leasing, financing, restructuring, and balance sheet structuring specific to aviation assets .